Delvin Corporation incurred the following costs while manufacturing its product.

Delvin Corporation incurred the following costs while manufacturing its product.

 

Materials used in product            130,000                      Advertising expense        49,000

Depreciation on plant                    65,000                      Property taxes on plant   16,000

Property taxes on administrative building   7,700             Delivery expense            20,000

Labor costs of assembly-line workers    112,000             Sales commissions        31,000

Factory supplies used                           24,000             Salaries paid to sales clerks    58,000

 

Work-in-process inventory was $23,000 at January 1 and $15,800 at December 31. Finished goods inventory was $67,000 at January 1 and $52,600 at December 31.

 

Instructions

 

Prepare a cost of goods manufactured schedule and determine the amount of cost of goods sold.